Hannover Life Re has announced further product and system enhancements to its group life and group income protection insurance offerings – continuing to take a lead in the market. The improvements ensure that cover remains competitive, affordable, simple to understand, is easily accessible, and can be tailored to meet individual client’s needs.
Some of the latest product enhancements available to Hannover Life Re clients are set out below:
Increased maximum insurance age
The maximum insurable age for death and total and permanent disability (TPD) has been extended to age 70 to reflect higher retirement ages.
Rise in maximum cover
A maximum of AUD 3 million is now available for TPD and terminal illness cover whilst the amount of death cover remains unlimited. For group income protection (GIP) cover, a monthly benefit of AUD 30,000 is now available, depending upon the benefit period selected.
Simplified overseas cover
Unrestricted overseas cover is provided to all members travelling overseas for business or personal reasons for up to three years.
Extended employer-approved leave
Continued cover can now be provided for up to two years to any employee who is granted approved leave by their employer.
Unlimited rehabilitation benefits
For GIP cover, there is now no limit to the amount of rehabilitation benefit we will pay to assist a member to be rehabilitated, subject to our prior approval.
Accidental cover whilst underwriting
Hanover Life Re now offers a maximum death and TPD benefit of up to AUD 1.5 million, and a monthly GIP benefit of up to AUD 15,000 during the underwriting period.
Improved automatic acceptance limits
Higher levels of automatic cover will now be granted to employer groups in order to reduce the administrative burden for both employers and their highest-earning employees.
Cover after ceasing employment
When members leave their employer they can now keep their death and TPD cover through our new TPD continuation option.
Improved systems and services
In addition to our current on-line claims and underwriting tracking facility for employers, we are in the final stages of developing a new interactive facility that will allow members to apply for additional cover and be accepted on-line. Additionally, where medical evidence is required, we now offer a mobile collection service that makes it easier to provide blood and other medical information.
For more information
please visit www.hannoverlifere.com
Increased maximum insurance age
The maximum insurable age for death and total and permanent disability (TPD) has been extended to age 70 to reflect higher retirement ages.
Rise in maximum cover
A maximum of AUD 3 million is now available for TPD and terminal illness cover whilst the amount of death cover remains unlimited. For group income protection (GIP) cover, a monthly benefit of AUD 30,000 is now available, depending upon the benefit period selected.
Simplified overseas cover
Unrestricted overseas cover is provided to all members travelling overseas for business or personal reasons for up to three years.
Extended employer-approved leave
Continued cover can now be provided for up to two years to any employee who is granted approved leave by their employer.
Unlimited rehabilitation benefits
For GIP cover, there is now no limit to the amount of rehabilitation benefit we will pay to assist a member to be rehabilitated, subject to our prior approval.
Accidental cover whilst underwriting
Hanover Life Re now offers a maximum death and TPD benefit of up to AUD 1.5 million, and a monthly GIP benefit of up to AUD 15,000 during the underwriting period.
Improved automatic acceptance limits
Higher levels of automatic cover will now be granted to employer groups in order to reduce the administrative burden for both employers and their highest-earning employees.
Cover after ceasing employment
When members leave their employer they can now keep their death and TPD cover through our new TPD continuation option.
Improved systems and services
In addition to our current on-line claims and underwriting tracking facility for employers, we are in the final stages of developing a new interactive facility that will allow members to apply for additional cover and be accepted on-line. Additionally, where medical evidence is required, we now offer a mobile collection service that makes it easier to provide blood and other medical information.
For more information
please visit www.hannoverlifere.com